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i would not be surprised to to see this at 18 or 19 on close today
Ouch SK - that hurts - sorry to hear that, never liek to hear anyone losing money -
U r smart, u will make it back somehow
Frankly at the moment, its difficult to see where to invest and make money short term. I wouldnt even touch the FAANG's with a barge poll now - all well over cooked and looking pretty dire actually.
Only thing i am in and like is Soya Bean Futures
Respect your decision SK - it looks like no matter what is being bought they are dragging this lower regardless. IMO the RI price will be low 20's or late teens - lets see where they close it today, will give some clue what that they want
Daveoil - agree, this has all the hallmarks of repeating what happened to TLW -
we simply got too much debt - the only difference is that TLW started to offload and reduce the burden. Tony is now unable to do that in these market circumstances as noone wants to buy anything thats not renewable unless at throwa away prices. he has dug a very big hole.
Sub 25 coming for the close today and i think this will keep sinking until he sheds more light on the refinance debacle he has created AGAIN !!! I simply cant believe it - what an ass !
Your delusions of grandeur Tony have finally come home to roost and haunt you forever !
BUT IMO the BOD is also culpable here - i do beleive there has been collusion between senior management, BOD and creditors and if the FCA for once did their job properly and evaluated and investigated they would turn up a hornets nest of info. THis has been nothing but manipulated with inside info for years.
Doesnt matter what we mere mortals say or do - they always get away with it . . .
I really think that Tony might just have put the nail in the coffin this time - all we need is another finanical crunch (which i predict soon following the virus corection) and this could go bust - we all been saying for so long now, get that debt down, its too high but TD keeps ploughing ahead with new purchases. Even with the existing debt at 2 billion its too big for a company of this size.
his name is Tony not Bob hahahaha
Seems like TLW wil hit teens before we do
ENQ starting to look attractive - SK, Dodger, Kilgeever, et al - any thoughts here
With SP's already embattled and hovering around low of lows, any market correction of any significance, will now (unfortunately) put a few at risk of bankruptcy. I havent seen so many oilies looking so cheap for a very long time.
You could try the hedge trimmer :)
I agree with you SK (always have on this point) the purchase of BP asset was and is complete madness - taking on more debt when already owe U$ 2 billion with a market cap at what - umm barely anything !
Zama, yes we both also said about this and i said a month or so ago, this wotn happen for a long time with PEMEX getting their sticky fingers into the equation - PLUS who is going to buy any more assets in this economic climate
Depends on what Tony comitted to in his infinite wisdom when he agreed to buy - dropping out now might incurr large penalties and personally, we know Tony's delusions of grandeur and he wont back down unless he is forced to.
dependant upon any market correction this could go lower
TD look what you have done to this company and look at a 10 year chart and look where you have taken it and returned investment to shareholders - oh whoops, no you didnt !
TR61, so good to hear from you -
I stupidly bought a lump (not too large) thinking surely he wouldnt screw it up again learning from his last FU but oh no, he has gone and done it again - what an ass - how this BOD's allows this muppet to carry on running this business is beyond me - complete and utter corporate incompetence.
II's flooding for the door again with no RI price - what is wrong with this guy - i question his loyalty
Ah well, lets wait for 15p and take a punt again if PMO is still floating
Screw this - sold my last holdings in PMO - that taught me a lesson but way i see it this could go sub 20's
Actually you might be right - the market seems to do the complete opposite of logic these days.
Guidance on production is stable - will increase with BP purchase and Tolmount coming on next year.
Refinance MUST be agreed by shareholders so its not a done deal yet - but reading it again i just hope and pray that he is not gonna use the convertible bonds, but thats the way i read it, convertible swap equity for debt - oh man - he never learns. That said, all you LTH's here have the chance as shoareholder to vote against - as always, use the vote if you have it !
I think market will take this on the chin - sit tight and lets see - first 30 mins will be crazy swings for sure - let it settle and see after 30 mins and that will tell direction for rest of the day
GLA
Screw the shareholders once again - as expected, this guy never fails to dissappoint .. .
I said it a hundred times before and i will say it again, never put the CFO into the CEO position - this is the clearest evidence yet of a man out his depth. Wrong man for the job - IMO he has failed completely on his key positon requirement, to return value to shareholders - fail fail fail
BOD needs to change him - otherwise i am very concerned he will sink this ship -
Drop the BP deal FFS Tony - have you not looked out your window at the global economic climate
Its a fine balance with Energy at the moment - OPEC meeting in the balance and PMO TU tomorrow - they could play against each other is my concern.
I am assuming TD will present a solid TU tomorrow with no surprises and hopefully some positive news to kick us up 5% ish. BUT then this is Tony and he always has a gift for scrwing things up
Am here Kraken - watching markets closely, deciding what to do - just bought a lump of PMO at 34
Might close my short on BP (done good on that one) as always profit is profit but just seeing it might retest 279.10 again as Olivia pushing south again
Tomorrow (got it right now Kraken) - no SP action yet untoward to speak of so perhaps it will be usual lack lustre TD performance.
Still waiting for 20's - wont be long IMO, market on brink of a nose dive.
Thats promising :)